Question
An investment wil pay you $20,900 in 17 years. The stated interest rate is 12% (APR). If interest is compounded quarterly, what is the present
An investment wil pay you $20,900 in 17 years. The stated interest rate is 12% (APR). If interest is compounded quarterly, what is the present value?
Enter your response below rounded to two decimal places.
Step by Step Solution
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Step: 1
To calculate the present value of the investment we can use the formula for comp...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
